MN SF1772

Amend Minnesota Rules, part 2770.6500, subpart 2, item B, subitem (5), to base self-insurance authority grants on an applicant's net working capital instead of net funds flow.

Permit the commissioner of commerce to grant self-insurance authority to non-political subdivision applicants lacking positive net income or working capital for at least three of the last five years if their working capital, debt structure, profitability, and overall financial integrity demonstrate ability to satisfy no-fault act obligations.

Require the commissioner of commerce to define working capital for purposes of Minnesota Rules, part 2770.6500.

Change Minnesota Rules, part 2770.7300, to permit (rather than require) the commissioner to revoke a self-insurer's authorization based on specified determinations.

Authorize the commissioner of commerce to use expedited rulemaking under Minnesota Statutes, section 14.389, to implement these rule amendments.